Course Title: Prepare financial reports for a reporting entity

Part B: Course Detail

Teaching Period: Term1 2008

Course Code: ACCT5201C

Course Title: Prepare financial reports for a reporting entity

School: 650T TAFE Business

Campus: City Campus

Program: C5178 - Diploma of Accounting

Course Contact : Jenny Seiler

Course Contact Phone: +61 3 9925 1621

Course Contact

Name and Contact Details of All Other Relevant Staff

Jennifer Wotzko

Phone 9925 5701

Nominal Hours: 60

Regardless of the mode of delivery, represent a guide to the relative teaching time and student effort required to successfully achieve a particular competency/module. This may include not only scheduled classes or workplace visits but also the amount of effort required to undertake, evaluate and complete all assessment requirements, including any non-classroom activities.

Pre-requisites and Co-requisites


Course Description

This unit covers the development and preparation of financial reports for a reporting entity.

National Codes, Titles, Elements and Performance Criteria

National Element Code & Title:

FNSACCT504A Prepare financial reports for a reporting entity


Compile data 

Performance Criteria:

1.  Data is systematically coded, classfied and checked for accuracy and reliability in accordance with organizational policies, procedures and accounting standards

2.  Conversion and consolidation procedures are used to compile data in accordance with organizational policies and procedures.

3.  Valuations in compliance with relevant accounting standards are recorded.

4.  Effects of taxation are identified and recorded


Prepare reports

Performance Criteria:

1.  Charts, diagrams and supporting data are presented in an appropriate format

2.  Structure and format of reports are clear and conform to statutory requirements and organisational procedures

3.  Statements and data are error free, comprehensive and and comply

Learning Outcomes

Please refer to Elements of Competency.

Details of Learning Activities

Each week students will be introduced to the accounting theory and relevant accounting standards and legislation related to each topic.  A demonstration of the practical application of  the theory and standards will also be given  (eg case studies)

Discussion of current issues related to the topics, student completion of practical exercises  including company accounts and company reports and investigation and discussion re published reports will also be completed.

Teaching Schedule

WeekWeek CommencingLearning OutcomesElements
1 11/2/2008

 Introduction   1 Finalization of P/L and retained earnings

 1.1, 1.3, 1.4
2 18/2/2008 1 Finalization of P/L and retained earnings,  2  Tax Effect Accounting 1.1, 1.3, 1.4
3 25/2/2008 2 Tax Effect Accounting,  3  GPFR 1,1, 1.4
4 3/3/2008 3 GPFR  4  Income Statements & Statements of Change in Equity

 1.1, 1.3, 1.4, 2.1, 2.2, 2.3

5 10/3/2008 4 Income Statements & Statements of Change in Equity 1.1, 1.3, 1.4, 2.1, 2.2, 2.3
6 17/3/2008  and /or 27/3/2008 5  Balance Sheets 1.1, 1.3, 1.4, 2.1, 2.2, 2.3
7 31/3/2008 5 Balance Sheets 1.1, 1.3, 1.4, 2.1, 2.2, 2.3
8 7/4/2008 Assessment Week    Revision and Test 1 
9 14/4/2008 6  Cash Flow Statements 1.1, 1.3, 1.4, 2.1, 2.2, 2.3
10 21/4/2008 6 Cash Flow Statements   10 Current Reporting Trends 1.1, 1.3, 1.4, 2.1, 2.2, 2.3
11 28/4/2008 7  Amalgamations and Takeovers 1.1, 1.3
12 5/5/2008 8  Consolidated Reporting 1.1, 1.2, 1.3, 1.4, 2.1, 2.2, 2.3
13 12/5/2008 8 Consolidated Reporting 1.1, 1.2, 1.3, 1.4, 2.1, 2.2, 2.3
14 19/5/2008 8 Consolidated Reporting  9   Segment Reporting 1.1, 1.2, 1.3, 1.4, 2.1, 2.2, 2.3
15 26/5/2008 9 Segment Reporting 1.1, 1.2, 1.3, 1.4, 2.1, 2.2, 2.3
16 2/6/2008 Revision and Test 2 1.1, 1.2, 1.3, 1.4, 2.1, 2.2, 2.3
179/6/2008 Review Test 2 and Deferred Test 1/Retest 1 
18 16/6/2008Deferred Test 2/Retest 2 & Course Review 

Learning Resources

Prescribed Texts

A hard copy of a current annual company report.  Each student will be allocated a company and will refer to their report across the semester


Company Accounting & Financial Statements (4th Edition) Paul De Lange, Robert Rodgers, Edward A Clarke

Corporate Accounting Wilson & Booker

Australain GAAP Parker and Porter Search:   AASB Standards

Corporate Accounting and Reporting - A Practical Approach National Institute of Accountants  2007

Other Resources

All relevant learning resources will be placed on the online learning hub progressively throughout the semester.  Students will need to access this site on a weekly basis, print of materials and bring them to class

Overview of Assessment

Throughout the semester students will be able to gauge their progress with the completion of and discussion about class exercises. This formative feedback will highlight to students areas in which they may need to do more work to achieve competency

Assessments may include: short in class exercises, closed book class tests, question and answer activities, assignments and closed book exams.

Assessment Tasks

Students must complete both tests and the assignment and achieve a mark of greater than 50% in each to achieve and overall pass in this course.  If students do not pass each assessment but achieve a mark greater than 50%, they will be given an overall grade of NYC and need repeat  the course.

TESTS   If a student receives a mark of less than 50% for a test they have completed,  they will be given the opportunity to resit the test for a maximum of 50% as per the teaching schedule.

ASSIGNMENT   If a student receives a mark of  less than 50% for an assignment they have completed, they will be given the opportunity to resubmit the assignment to a achieve a pass grade

Assessment Matrix

 MarksLearning Outcomes 
Presentation of company report and company details (due 3/32008)5  
Test 1351,2,3,4,5 
Assignment (due week beginning 5/5/2008)251,2,3,4,5,6,9,10 
Test 2356,7,8,9,10 

Other Information

Employablity Skills  The following employability skills will be intergrated in the course



Problem solving

Planning and organization

Self management



Previous Recommended Study

ACCT5112C Prepare Financial Reports

ACCT5180C Maintain Financial Records

ACCT5195C  Prepare Financial Statements

Course Overview: Access Course Overview